Brazil: Market for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles 2024

Market Size for Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Brazil

The Brazilian market for tyres for agriculture, forestry, construction, industry and other off the road vehicles soared to $X in 2022, surging by 28% against the previous year. In general, consumption recorded tangible growth. Consumption of peaked in 2022 and is expected to retain growth in years to come.

Production of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles in Brazil

In value terms, production of tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.6% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 42% against the previous year. Production of peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Exports from Brazil

In 2022, overseas shipments of tyres for agriculture, forestry, construction, industry and other off the road vehicles increased by 10% to X units, rising for the second year in a row after two years of decline. Overall, exports saw a resilient expansion. The pace of growth appeared the most rapid in 2015 with an increase of 61%. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles soared to $X in 2022. In general, exports, however, saw a slight descent. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Argentina (X units) was the main destination for exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from Brazil, accounting for a 38% share of total exports. Moreover, exports of tyres for agriculture, forestry, construction, industry and other off the road vehicles to Argentina exceeded the volume sent to the second major destination, Mexico (X units), twofold. Paraguay (X units) ranked third in terms of total exports with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Argentina amounted to +19.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+17.9% per year) and Paraguay (+10.9% per year).

In value terms, Argentina ($X), the United States ($X) and Mexico ($X) constituted the largest markets for agricultural, construction and industrial machinery tyre exported from Brazil worldwide, together comprising 38% of total exports. Colombia, Paraguay, Bolivia and Uruguay lagged somewhat behind, together accounting for a further 15%.

Uruguay, with a CAGR of +10.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for tyres for agriculture, forestry, construction, industry and other off the road vehicles amounted to $X per unit, increasing by 23% against the previous year. Over the period under review, the export price, however, recorded a abrupt decrease. The pace of growth appeared the most rapid in 2019 an increase of 36% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Uruguay ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Paraguay (-2.8%), while the prices for the other major destinations experienced a decline.

Imports of Tyres For Agriculture, Forestry, Construction, Industry And Other Off The Road Vehicles

Imports into Brazil

In 2022, approx. X units of tyres for agriculture, forestry, construction, industry and other off the road vehicles were imported into Brazil; surging by 14% compared with 2021 figures. The total import volume increased at an average annual rate of +2.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 38%. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles attained the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles soared to $X in 2022. In general, imports recorded a moderate expansion. The growth pace was the most rapid in 2021 when imports increased by 75%. Over the period under review, imports of tyres for agriculture, forestry, construction, industry and other off road vehicles attained the peak figure in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, China (X units) constituted the largest agricultural, construction and industrial machinery tyre supplier to Brazil, with a 42% share of total imports. Moreover, imports of tyres for agriculture, forestry, construction, industry and other off the road vehicles from China exceeded the figures recorded by the second-largest supplier, India (X units), threefold. The third position in this ranking was taken by the Czech Republic (X units), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: India (+16.5% per year) and the Czech Republic (+27.6% per year).

In value terms, the largest agricultural, construction and industrial machinery tyre suppliers to Brazil were China ($X), the United States ($X) and India ($X), with a combined 68% share of total imports.

India, with a CAGR of +16.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for tyres for agriculture, forestry, construction, industry and other off the road vehicles stood at $X per unit in 2022, surging by 19% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 27% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Sri Lanka ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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